Ending Diagonal / Truncation / Extension all have the same message loud & clear - "Dramatic Reversal"
Snapshot Taken on 11th Jan2021- Structure Finishes or Possible Finish with Ending Diagonal/Wedge- What Next? - A Dramatic Reversal
Warning Suggested @ 10th Jan2021 - Be Careful At The Tops
Updated & warned on the last idea @ 10th Jan2021, when stock started falling back below 5225 / 5200 -which was key zone for the stock
Running close to 1st target - 4700
Candlestick Patterns confirming the bearish outlook at the tops
Hanging Man
Shooting Star
Evening Star ( Possible Candlestick as it is running currently)
---------------------------------------------------------------------------------------------------------------------------- Last Idea @ 26th Dec2020- Dr Reddy- Hanging Man - Top Reversal Candlestick Pattern @ 5200 ----------------------------------------------------------------------------------------------------------------------------
Comment
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11:00 Hrs / 28th Jan2021
Last Price @ 4880
Intraday - this stock also has false breakdown as suggested on the idea of Reliance update- Important support 1890-1900
Dr.reddy made low @ 4777 which is false breakdown & bouncing upside
Trade active
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11:58 Hrs / 28th Jan2021
Last Price @ 4876
Once stock crosses ----above 4900--- which is psychological level- It has potential do intra day push upside to 5000/5075 levels
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14:42 Hrs / 28th Jan2021
Last Price @ 4830
Downtrend will continue only below 4777 which was false breakdown - else upside bounce is expected for 5000+ levels
Trade active
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15:13 Hrs / 28th Jan2021
Bouncing from close to 4800 levels as suggested above
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16:02 Hrs / 29th Jan2021
Last @ 4602
Channel broke & went below 4777 - As suggested on 28th Jan2021 -------Downtrend will continue once it starts falling below 4777
Target 1 @ 4700 is done
Heading downside for Target 2 which is 4350
Happy Weekend !!!
Trade active
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11:08 Hrs / 2nd Feb2021
Last Price @ 4428
Falling below 4400 - Expect downside to 4300-4325 which will finish both the targets of 4700 & 4350 suggested earlier
Going Below 4300 - fall can extend to 4100 & 3950
Thanks
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12:06 Hrs / 2nd Feb2021
Last @ 4406
Avoid sell if it holds or crosses above 4400 as later crossing above 4470 - upside Reddy will get ready for 4650-4700 target zone